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Jay Butler of the Arizona Real Estate Center released his report yesterday on the state of the Phoenix housing market. Median price appreciation [corrected] remain in negative territory, with the median at $257,000 this year, down 1.12 percent from last year’s $259,900. From the graph it might appear that the trend may have moderated somewhat:

In general, if you go to the Realty Times site looking for enlightenment and wisdom, you are liable to be disappointed- most of the time it is a source for "It’s merely a flesh wound!" quotes. (It’s a national site where local realtors can post their opinions.) Every now and then though, you run into …